NexGen Energy (NYSE:NXE) Trading Up 5.6% - Here's What Happened

NexGen Energy Ltd. (NYSE:NXE - Get Free Report)'s share price was up 5.6% during mid-day trading on Wednesday . The stock traded as high as $4.80 and last traded at $4.80. Approximately 3,864,131 shares were traded during trading, a decline of 61% from the average daily volume of 9,913,725 shares. The stock had previously closed at $4.54.

Wall Street Analyst Weigh In

NXE has been the topic of several recent analyst reports. Stifel Canada upgraded shares of NexGen Energy to a "strong-buy" rating in a report on Tuesday, March 11th. Scotiabank restated an "outperform" rating on shares of NexGen Energy in a research report on Thursday, March 6th. Stifel Nicolaus assumed coverage on shares of NexGen Energy in a report on Wednesday, March 12th. They issued a "buy" rating on the stock. Finally, Raymond James reaffirmed an "outperform" rating on shares of NexGen Energy in a research note on Friday, April 4th. Three analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Strong Buy".

NexGen Energy Trading Down 5.3 %

The company has a market capitalization of $2.56 billion, a PE ratio of 29.94 and a beta of 2.02. The business has a fifty day moving average of $4.97 and a 200 day moving average of $6.51.

Hedge Funds Weigh In On NexGen Energy

Institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in NexGen Energy by 1.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,018,623 shares of the company's stock worth $230,828,000 after purchasing an additional 501,952 shares during the period. Vanguard Group Inc. lifted its stake in NexGen Energy by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 20,436,513 shares of the company's stock worth $134,779,000 after acquiring an additional 298,106 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in NexGen Energy by 1.0% during the 4th quarter. Nuveen Asset Management LLC now owns 8,747,305 shares of the company's stock worth $57,659,000 after acquiring an additional 82,413 shares in the last quarter. Van ECK Associates Corp increased its position in shares of NexGen Energy by 79.7% in the 4th quarter. Van ECK Associates Corp now owns 8,481,026 shares of the company's stock valued at $55,971,000 after purchasing an additional 3,762,756 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of NexGen Energy by 222.6% in the 4th quarter. JPMorgan Chase & Co. now owns 6,345,726 shares of the company's stock valued at $41,882,000 after purchasing an additional 4,378,933 shares during the last quarter. Institutional investors and hedge funds own 42.43% of the company's stock.

NexGen Energy Company Profile

NexGen Energy Ltd., an exploration and development stage company, engages in the acquisition, exploration, and evaluation and development of uranium properties in Canada. It holds a 100% interest in the Rook I project that consists of 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.